The Hackett Group’s 2025 Working Capital Survey reveals U.S. companies are leaving $1.7 trillion in liquidity untapped.
A modest gain in payables has eased the cash conversion cycle, but the real story lies elsewhere: receivables remain the biggest source of trapped cash, and AI is fast emerging as the lever to unlock it.
The message is clear – working capital is no longer a passive outcome of operations. It’s a strategic battleground where discipline and digital foresight will separate leaders from laggards.
Want the full picture?
Read Hackett’s 2025 Working Capital Survey and explore all the findings
Access the report on Hackett Group’s website below:
Based on an analysis of the top 1,000 U.S. publicly traded nonfinancial companies, this survey uncovers a staggering $1.7 trillion of excess working capital – representing 35% of gross working capital and 11% of total revenue
Despite modest improvements in payables efficiency, much of this cash remains locked in receivables and inventory, limiting liquidity and growth potential.
The survey highlights both the risks of inaction and the opportunities for companies that adopt best practices and emerging technologies like AI to accelerate cash conversion and unlock trapped value.
1. Improved Liquidity via Payables Optimization
2. Receivables: The Largest Cash Trap
3. Gen AI Speeds Up Recovery
4. Performance Gaps Reveal Strategic Disparities
Turn Receivables Data into Insights!
Our course on how to do a transaction data analysis is coming soon!
1. Benchmark Receivables & Inventory
Identify your DSO, DPO, and DIO relative to high performers.
2. Pilot Gen AI Tools
Automate collections, forecast demand, and optimize payables.
3. Focus on Receivables Efficiency
The largest opportunity lies in reducing DSO.
4. Track Cash Conversion Cycle & Liquidity Metrics
Monitor improvements and quantify incremental cash flow gains.
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